Registering for the CFA Exam

by MoneyNing

I registered to take the Chartered Financial Analyst (CFA) level 1 exams in December. As this is a multi-year, 3 level program, it will be a long journey that I plan to share with all of you.

I’m sure many of you can tell that I have a passion for finance related topics. Creating this blog involved me even more into the financial world, and has not only helped me identify my passion but also gave me enough evidence to pursue work in this field. I know studying for this exam will be extremely hard because of my day job and blogging roles, but I feel that it will all be worth it.

Registering was the easy part, as it only involves signing up at the CFA Institute website. Once you sign up, you can become a member and register for the level 1 exam that’s held in June and December of each year. This is a major commitment and investment because there’s a minimum of 250 hours of reading and studying for each level as well as the $990 registration fee (including books, membership and exam fees) for the level 1 exam so I certainly will not take this lightly.

Although I am a little worried that I won’t have time to adequately prepare for this exam, I don’t want this to be an excuse to not take (or delay taking) the exam. I took the bold and optimistic approach, and will work hard to figure out a way to accomplish my goal. I feel that by doing so, at least I’m giving myself a chance to pursue my passion. If I don’t even try, the chance of success is zero.

In the coming weeks and months, I will share with you what I’ve learned from the material so stay tuned! In the meantime, I will await the study material to be sent to me.

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{ 16 comments… read them below or add one }

Lise March 20, 2008 at 9:47 am

This is awesome! Good luck!

What kind of financial services would you be able to provide with this certification?

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Emily March 20, 2008 at 2:03 pm

Share with us how you prepare for the exam! Maybe you can be a tutor for CFA! How about to host a study group?

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LiteDeals March 20, 2008 at 2:15 pm

Couple of my friends are in various stages of this CFA ordeal. From what I have heard, it seems that level 1 is quite straitforward but level 2/3 are much more demanding…

Best wishes to you for this major undertaking!

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Mark @ TheLocoMono March 20, 2008 at 6:02 pm

I didn’t know you want to be a CFA, I look forward to hearing about your journey. It must be quite a challenge.

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No Debt Plan March 20, 2008 at 7:56 pm

I will definitely be interested to read about this. I am also interested in pursuing financial advising as a career, but I don’t want to sell poor investments to my customers (Edward Jones, etc.)

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lena the thinker March 20, 2008 at 8:58 pm

Good luck to you on the examination day! You can make it!

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MoneyNing March 20, 2008 at 10:10 pm

Lise: I’m not sure yet. CFA is more a designation of professionalism of you instead of a license to offer services. For example, you can offer services without any license as long as someone trusts you.

Emily: Study group is a great idea but I can’t commit to a regular schedule so it will be tough.

LiteDeals: I hope that level 1 will be easy and I will worry about level 2 later :)

Mark: It will be challenging but I’m ready to take it on!

No Debt Plan: Good luck on your side. Let me know if you need someone to talk about it with.

lena the thinker: Thank you :) I will need it.

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CFA Indonesia March 20, 2008 at 10:56 pm

prepare yourself as early as possible because cfa level I exam not only needs knowledge but also speed to do the exam.

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CD Rates Blog March 21, 2008 at 8:37 am

Good luck. About 4-years ago I completed my Series 7/63 licenses. Then I looked at the CFP, but the laws were changing regarding education required so I had to put it on hold.

Keep in mind, as far as services you can offer, there are regulations that go beyond being trustworthy.

It will take discipline and time, but from what I’ve discerned about you, you will do fine.

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Jenn @ Frugal Upstate March 22, 2008 at 5:51 am

Great! Good luck-I’m sure you’ll do well.

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Mayank Rocks March 23, 2008 at 4:07 am

Good Luck Buddy :)

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Sebbi March 25, 2008 at 4:14 pm

thanks for the post. i hope to listen some more.
Best regards from Sebbi

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James Cox November 9, 2008 at 6:58 pm

Hi mate,

Interested to hear how you are going? I have the exam in December and have written a bunch about my progress and how my various plans have changed as I have got closer and closer to exam day…

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MoneyNing November 9, 2008 at 8:06 pm

James: Nice to hear from you and good luck! To be honest, between deciding to go full time blogging and consulting, my plans for the CFA has changed. Since I registered for it (ie paid), I will still go give it a go even though I haven’t really studied for it. It would be a long shot but I feel like I should at least show up! :)

In any case, good luck to you and keep me updated!

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nameit November 24, 2008 at 11:14 pm

More than 100 exam like questions are available at FinQuiz.com. Try these because these will help in passing the exam

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Adam T Poole January 20, 2009 at 7:36 pm

I will be signing up for Dec 5th test here at the end of Feb. I have been going over Kaplan’s CFA Basics. It seems to be everything I learned in college in one book. The pass rate on the first test is around 40% and only 80,000+ people in the world and CFAs. But if you get it, it is better than having an MBA. The funny thing is it costs less too. I looks like you will start studying before me. Would you please let me know how good the books are and if you get any thing else to help you prepare?

Thanks,

Just one more person taking the CFA in MN.

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